ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova Buys 45,191 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova acquired 45,191 shares of the stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $0.97 per share, with a total value of $43,835.27. Following the completion of the acquisition, the director now directly owns 54,112 shares of the company’s stock, valued at $52,488.64. This trade represents a 506.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

ThredUp Stock Up 9.8 %

NASDAQ:TDUP opened at $1.01 on Tuesday. The firm has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $1.31. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Hedge Funds Weigh In On ThredUp

Hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its holdings in shares of ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after purchasing an additional 674,852 shares in the last quarter. BloombergSen Inc. bought a new stake in ThredUp in the 2nd quarter worth about $131,000. SG Americas Securities LLC raised its position in ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares during the last quarter. PEAK6 Investments LLC bought a new position in ThredUp during the 1st quarter valued at about $328,000. Finally, Sei Investments Co. purchased a new stake in shares of ThredUp during the 2nd quarter valued at about $37,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDUP has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ThredUp has a consensus rating of “Moderate Buy” and an average price target of $3.40.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.